Deadline extension for Strong Customer Authentication
What has happened?
On 20th May 2021, the FCA extended its deadline for implementing Strong Customer Authentication (SCA) for e-commerce transactions to 14 March 2022.
What do you need to do?
The FCA had previously agreed to give firms extra time to implement SCA for card-based e-commerce transactions in response to concerns about industry readiness and to limit the impact on consumers and merchants. It had also provided an additional six-month extension in response to the coronavirus crisis.
This further six-month extension is granted to ensure minimal disruption to merchants and consumers, and it recognises the challenges facing the industry in preparing for the previous 14 September 2021 deadline. The new 14 March 2022 deadline is the latest expected date for full SCA compliance for e-commerce transactions.
How can we help you?
If you’d like to know more about how we can help you with your firm’s payment services arrangements, or any other regulatory compliance issues, our expert team is here to help. Contact us today on 0207 436 0630 – or email info@thistleinitiatives.co.uk.